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STATUS OF THE RV, PART. 4
PLEASE READ THIS—-> Now let’s talk about the new stage that Iraq has entered, which incidentally, efforts were put on warp speed to complete the AML reforms as acceleration began in early January 2023. You have all seen it in the hundreds of articles I presented over these past couple years.
If you can remember I keep harping on the issue of a suppressed Iraqi dinar from the real nominal rate using still the sanctioned de facto peg to the dollar. We know about what the TRUE rate of the dinar should currently be based on its assets.
The IMF is going to a strict asset-based evaluation of currency values. This is a Basel requirement. So, what has been preventing this revaluation to the TRUE rate of the dinar? By reading this Newsletter today so far you have a pretty good idea that it was mostly the AML issue.
I am not saying that other issues are also not important but when you look at them and study them overall, they too always come back to being a part of the AML efforts, i.e. banking reforms.
If you have been reading enough of these articles over the past two decades (like I have), we now get a sense of a real change. Call it a transition, yes, a transition taking slower than we want, but a sound transition away from those sanctioned days of Iraq since 1990’s.
It is a new Iraq and it is here now not years from now. So, it puzzles me as to why the currency also does not NOW reflect this change. But I assure you it will, and it won’t be long until it does. We all need to just relax and hang-in to the end…. The AML efforts is sprouting great benefits to Iraq and allowing them to move ahead quickly now.
😊Looking at recent article titles “CBI CONFIRMS COMMITMENT TO COMBATING MONEY LAUNDERING IRAQ” from May 28, 2025, we read about an AML conference that took place in Baghdad (IraqiNews.com) – The Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, reaffirmed on Wednesday the country’s commitment to countering money laundering and terrorist funding in collaboration with international partners.
During his participation in a conference:
- Al-Alaq stated that Iraq is working with foreign partners to ensure compliance with international treaties on combating money laundering.
- According to Al-Alaq.Iraq has unique qualities in terms of financial data transparency and access required by authorities for monitoring currency flows outside the country,
- Al-Alaq explained that Iraq is cooperating on a global scale to exchange information through broad communication networks.
- Al-Alaq also stated that Iraq had some shortcomings that needed to be addressed, which the CBI did well by implementing suitable measures to decrease the dangers of money laundering and assure effective counter-terrorism financing.
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